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under the law, the government could recover triple damages. this is a $570 million suit against wells fargo. we're following it. we'll teep you posted. back to you. >> just off the lows, scott, thank you very much. we're heading toward the close, otherwise, with about 30 minutes left. the dow down 100 points at this hour. when we come back, we look at the health of wall street. new york state comptroller on the looming -- whether the looming fiscal cliff and increasing regulation are threatening wall street's comeback these days. plus, speaking of which, nearly half of all wall streeters are expecting a bigger bonus this year. will they get it in and more importantly, do they deserve it? that debate is coming up. and from bull market speed bump to chaos. breaking out at a bull fight in colombia. we're just wondering, is this scene a preview of what may be coming to our stock market? tdd#: 1-800-345-2550 this morning, i'm going to trade in hong kong. tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm tra
under the law, the government could recover triple damages. this is a $570 million suit against wells fargo. we're following it. we'll teep you posted. back to you. >> just off the lows, scott, thank you very much. we're heading toward the close, otherwise, with about 30 minutes left. the dow down 100 points at this hour. when we come back, we look at the health of wall street. new york state comptroller on the looming -- whether the looming fiscal cliff and increasing regulation are...
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government suing the nation's biggest mortgage lender. we'll take a look at how the global industry is faring. then it's off to paris. the stricken car maker is downgraded by moody's a day after demonstrators stage protests. we'll have details from the french capital. and we'll head to new york where there's an appetite for young, profits that is, up nearly a quarter from a year earlier. we'll take a look on a big day for earnings on wall street. and a big week that's coming up. joining us now onset, though, bob mckey. bob, you're here with us, chief economist from independent strategy. i guess let's just begin by talking a little bit about some of these headlines that we're hearing from the imf regarding financial stability. obvious, i guess, to sort of draw attention to this issue, but in your mind, is there still lingering risk out there from the lack of reform, i guess, in some areas of the industry? >> i think what the global stability report is showing -- it's the third report the imf brings out at this semiannual meeting. everybody
government suing the nation's biggest mortgage lender. we'll take a look at how the global industry is faring. then it's off to paris. the stricken car maker is downgraded by moody's a day after demonstrators stage protests. we'll have details from the french capital. and we'll head to new york where there's an appetite for young, profits that is, up nearly a quarter from a year earlier. we'll take a look on a big day for earnings on wall street. and a big week that's coming up. joining us now...
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then france and the government would like to buy this stake. but if there is a limit of 10%, it won't be pobl. so in that case, france would be blocked. that's why the reason the government doesn't want to sign anything now which would jeopardize the future of its stake in eads. and that's the main problem from the french perspective. >> all right. what do you think, do you think we'll resolve it? stefane, if you were a betting man. >> it took years for french and german people to work together in eads and it was assigns very difficult. sorry for patricia, but it was very difficult to work together because of course there are national influences. if you want a couple to become a threesome, it will be difficult at least at the beginning. and i'm not sure that a couple of extended weeks we could have to reach a deal would be enough to make it work at least on the political side. >> do you think we'll pull off a threesome, i guess paris would be the place to do it. but we'll see what happens. unfortunately patricia's gone, so we've lost her. never
then france and the government would like to buy this stake. but if there is a limit of 10%, it won't be pobl. so in that case, france would be blocked. that's why the reason the government doesn't want to sign anything now which would jeopardize the future of its stake in eads. and that's the main problem from the french perspective. >> all right. what do you think, do you think we'll resolve it? stefane, if you were a betting man. >> it took years for french and german people to...
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Oct 12, 2012
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in celebration of over 75 years of our government employees insurance company, or geico...as most of you know it. ...i propose savings for everyone! i'm talking hundreds here... and furthermore.. newcaster: breaking news. the gecko is demanding free pudding. and political parties that are actual parties! with cake! and presents! ah, that was good. too bad nobody could hear me. geico. fifteen minutes could save you fifteen percent or more on car insurance. with the blackish-blue frame and the white dots and the splattered paint pattern, your lights are on. what? [ male announcer ] the endlessly customizable 2013 smart. >>> welcome back to "power lunch." i'm mary thompson with a cnbc market flash. shares of haines celestial down. street account crediting the decline to reports circulating from nielsen that says while sales were up for hains in the most recent period they decelerated in the prior period so the stock is under pressure. again we'll try to confirm that but that's what street account is reporting light yao. >> thank you. >>> to the bond market. they've had a wild week there
in celebration of over 75 years of our government employees insurance company, or geico...as most of you know it. ...i propose savings for everyone! i'm talking hundreds here... and furthermore.. newcaster: breaking news. the gecko is demanding free pudding. and political parties that are actual parties! with cake! and presents! ah, that was good. too bad nobody could hear me. geico. fifteen minutes could save you fifteen percent or more on car insurance. with the blackish-blue frame and the...
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. >> about the ecb gives back the cash, the german government pay backed ecb. >> will be law andered? >> it will be laundered money, exactly. >> simon, what do you think? >> or extend the maturities that is the other possibilities. >> i have heard that this -- they begged for that absolutely right, keep asking and the ecb keeps saying no. >> most people think in the end, the way it is going to happen is through the laundered system through the back door, through the central banks. >> what about spain, michelle some people were posing the question that the greece certain lives the story of the day today with the protests, with ms. merkel going to greece, but spain really is what we need to be focused more on. do you agree with that? >> much bigger, much bigger in size. greece, in the end, is the bigger pictures that we see on television, but when it comes to the actual amount of money, the european union could actually handle that cost. spain is much, much bigger. >> thank you, michelle. simon, over to you. >> also watching, as you will be aware, sue, apple, very closely today. shares
. >> about the ecb gives back the cash, the german government pay backed ecb. >> will be law andered? >> it will be laundered money, exactly. >> simon, what do you think? >> or extend the maturities that is the other possibilities. >> i have heard that this -- they begged for that absolutely right, keep asking and the ecb keeps saying no. >> most people think in the end, the way it is going to happen is through the laundered system through the back...
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they don't need a government report. it does get a lot of attention and we got a race that's plainly at this point even though obama still has a slight advantage in the battleground states this race can go either way. >> interesting. then we got the governor, of course, speaking at vmi about foreign policy, an area for which a little while he appeared to want to take the campaign, at least before the debate. how ground moving is this? >> reporter: i don't think it's very ground moving. it's not what people will vote on. for romney it's an effort to press a leadership advantage which may be one of the things that move the numbers for him after the debate. he looks strong on the stage with president obama. he took the fight to obama. obama was a little bit more passive. but ultimately the economy, i believe, carl, is going to be what drives the result. >> if anyone who watched snl over the weekend knows the president wasn't that passive. thanks, john, we'll see you later, john harwood in washington. netflix is up 10%, 30%
they don't need a government report. it does get a lot of attention and we got a race that's plainly at this point even though obama still has a slight advantage in the battleground states this race can go either way. >> interesting. then we got the governor, of course, speaking at vmi about foreign policy, an area for which a little while he appeared to want to take the campaign, at least before the debate. how ground moving is this? >> reporter: i don't think it's very ground...
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remember, the problem is we've got these government shareholders, the british uk, british government and bae, and the eads who all wants slightly different things. we heard today from the foreign secretary william haig who explains the u.s. strategy in bae and that aligns, as well. if there was anything to dilute that in the merger, they wouldn't support it either. we've already heard it this week, over 13% of the private share holding. that they are opposed to the deal on current terms, particularly worried about solution. they also get quite a nice free cash flow from bae and a nice dividend. they're worried about that being diluted. and they don't see the logic necessarily. there's a lot of hurridles. and very quickly, we have an auction out for italy out this morning. yield does go slightly higher on the three and 12 months. slightly higher yields for italy, in the cash market, 5%, and spain, they've come back down to 5.78%, well below 6%. that's where we stand. back to you guys. >> ross, do you see this nigel dude from yesterday, the guy from the uk. >> he's fantastic. >> nigel
remember, the problem is we've got these government shareholders, the british uk, british government and bae, and the eads who all wants slightly different things. we heard today from the foreign secretary william haig who explains the u.s. strategy in bae and that aligns, as well. if there was anything to dilute that in the merger, they wouldn't support it either. we've already heard it this week, over 13% of the private share holding. that they are opposed to the deal on current terms,...
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, say in september the government hired 187,000 people and in august the government hired 417,000 people, that's 604,000 people the government hired in two months, that's the highest change in government employment since 1948. that's not the bls doing something. that's the government hiring people and then there was part-time, you saw how many part-time people there were suddenly in the report. >> it's people who want to be full time people. >> it lowers the unemployment rate. 114,000 was not a good number. >> no but wait a minute -- >> and jack is like being crucified for just tongue and cheek comment. >> this discussion you're having is over the heads of most american people, including me, okay? >> that's not a high bar for you. >> no, that's not a high bar but let me say this to you. there are people out there that haven't got jobs. there are people out there -- >> they know how they feel. >> exactly, and let's go beyond that. whatever the number is, it vastly understates unemployment. why? because arbitrarily they say if you stop looking for a job, you're no longer unemployed. well,
, say in september the government hired 187,000 people and in august the government hired 417,000 people, that's 604,000 people the government hired in two months, that's the highest change in government employment since 1948. that's not the bls doing something. that's the government hiring people and then there was part-time, you saw how many part-time people there were suddenly in the report. >> it's people who want to be full time people. >> it lowers the unemployment rate....
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that is the kind of government that's crazy. if you want me to go on, i'll give you another example. the president's employment bill, the president's employment bill had provision 2a that i read myself that said it shall be an unlawful employment practice for any employment agency or any employer to fail to hire or to refer for hiring any person based upon their status as unemployed, and such unlawful practice in 2b would have been a violation of the civil rights act of 1964, and the equal employment opportunity act. those things would have immediately discouraged anybody from hiring anyone because they would have been sued no matter what. this kind of stuff is outrageously bad government by any standard whether you're a democrat or republican. it doesn't make any sense. >> steve, ron baron is standing by. he's been a long-term investor and he's got a question for you as well. ron? >> hi, steve. thanks for coming on the show. >> hi, ron. it's a pleasure. nice to see you. >> great to see you, too. so i've been friends with steve
that is the kind of government that's crazy. if you want me to go on, i'll give you another example. the president's employment bill, the president's employment bill had provision 2a that i read myself that said it shall be an unlawful employment practice for any employment agency or any employer to fail to hire or to refer for hiring any person based upon their status as unemployed, and such unlawful practice in 2b would have been a violation of the civil rights act of 1964, and the equal...
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so you don't say the government's lying. you can't say that. yet if you add in two months more government workers than at any it time since 1948 for the past two months, the government can do -- >> but that goes to his point the u-6 number is -- i don't know if it's more accurate. >> it's broader and takes in to account the part-time workers that don't want to be part-time. they want the full-time job. so it's a broader measure of giving us the breadth of the labor market and the health of it and that's why when i say the unchanged number, i sort of ignored the headline number and didn't think it was that big of a deal. >> normally we'd focus on the 114, but, man, when you can go to 7.8 -- accoucan the fundamen catch up with where the market is? can it just tread water and the full fundamentals come up? >> look at all the global printing. >> all right. we have to go. jeff, you'll just have to agree with peter on this one. >> okay. see you next time. >>> if you have any comment ors questi question, e-mail us. still ahead, did you ever wonder how
so you don't say the government's lying. you can't say that. yet if you add in two months more government workers than at any it time since 1948 for the past two months, the government can do -- >> but that goes to his point the u-6 number is -- i don't know if it's more accurate. >> it's broader and takes in to account the part-time workers that don't want to be part-time. they want the full-time job. so it's a broader measure of giving us the breadth of the labor market and the...
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they are also blaming less government spending in europe on health care. also lack of reimbursements for medicare programs here in the united states. as you can see, it is down 18% at 86.60. back to you. >> wow, what a movement. thank you. >>> can you take the pain on apple, down about 9% since the iphone 5 went on sale. is it about fundamentals or something else behind the tech darling's big fallback. >>> also ahead, the game risk, no, it is not the handy board game, but big money is at stake with more regulation. find out how it can put the financial system in jeopardy. wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her! no you're not. i know. you know ronny folks who save hundreds of dollars switching to geico sure are happy. how happy are they jimmy? happier than a witch in a broom factory. get happy. get geico. fifteen minutes could save you fifteen percent or more. we don't call this our company, we call this our mission. green toys teaches children that if i have a milk jug and i stick it in the recycling
they are also blaming less government spending in europe on health care. also lack of reimbursements for medicare programs here in the united states. as you can see, it is down 18% at 86.60. back to you. >> wow, what a movement. thank you. >>> can you take the pain on apple, down about 9% since the iphone 5 went on sale. is it about fundamentals or something else behind the tech darling's big fallback. >>> also ahead, the game risk, no, it is not the handy board game,...
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governments don't have the same money. and number two is the competition from natural gas at least in north america. >> so becky has a view, she's talked about it on the show, about natural gas exporting and what that -- >> i've been warned. >> i will admit, i don't know how strongly i feel about it, but i do have torn feelings when you start thinking aboutle natural gas, exportation, i realize it's a great thing and it would help boost some of the prices so that people who have been investing the money to do it makes it more worth their time. but then there's also the argument that we want to be energy independent and maybe the best way to do that is to hold on to our own natural resources like china would do. they look at that time veit ver differently. >> our natural gas market is constrained by demand, not supply. the only thing that we're not independent in really essentially is oil. and i think we'll see there will be a report from the department of energy just after the election about this very question of exports.
governments don't have the same money. and number two is the competition from natural gas at least in north america. >> so becky has a view, she's talked about it on the show, about natural gas exporting and what that -- >> i've been warned. >> i will admit, i don't know how strongly i feel about it, but i do have torn feelings when you start thinking aboutle natural gas, exportation, i realize it's a great thing and it would help boost some of the prices so that people who...